Nubank to Pilot Dollar-Backed Stablecoin Payments via Credit Cards

Nubank, Latin America's largest digital bank, is launching a pilot program to test dollar-backed stablecoin payments through credit cards. Vice Chairman Roberto Campos Neto framed the MOVE as evidence of blockchain's accelerating disruption of traditional finance. Speaking at Meridian 2025, he emphasized that distributed ledger technology is becoming essential infrastructure for bridging digital assets with conventional banking systems.

The initiative reflects broader trends in emerging markets, where dollar-pegged stablecoins are gaining traction as both stores of value and transactional mediums. Campos Neto noted these crypto assets particularly thrive in economies with non-convertible currencies or political instability, offering easy dollar exposure without traditional banking channels. Nubank plans to eventually integrate the technology across its full suite of financial services.

Geopolitical implications loom large in the rollout. Most stablecoins remain tethered to the U.S. dollar, reinforcing global demand for dollar liquidity and Treasury instruments. The pilot underscores how crypto-native payment rails are increasingly intersecting with legacy financial infrastructure - with Latin America's fintech leader now serving as testing ground for this convergence.